Consumers have long been warned they were going to be pushed to the “point of pain” in order to curtail their spending. It seems like we’ve finally reached it.
Inflation doesn’t exist, the banks need another bailout, student loan forgiveness is a bad idea, and let the poors eat cake.
-every economist
Robert Reich would like a word to the contrary. He has a good YouTube channel where he discusses this nonsense in easy to understand ways.
Might check him but doubt it. I don’t trust economists, astrologers, or any other form of shaman.
Not all economists are as you describe, so if you won’t see the proof for that, would you at least stop with the sweeping generalizations?
I will when the majority of polled economists consistently support views that are not aligned with the regular population. When I see daily articles from groups like Brookings and the Economist bragging about how great Wall Street bailouts are and condemning student loan forgiveness I am not inclined to go find the single lone unicorn out there that disagrees.
Somehow we are supposed to believe the moral hazard and inflation risk of student loan debt forgiveness is real and horrible while bank bailouts it is non-existent. Just the other day I read an article by Grunweld explaining how bank bailouts are emergency measures and they don’t have to factor in what mistakes led to it or what problems will come from the fix. Meanwhile if you even hint at getting rid of student loan debt suddenly everyone wants to talk about those issues.
People lost their pensions, jobs, and homes in 2008. Goldman Sachs showed record profits. Economists approve of both.
Well that’s a whole lot of words that you might hear Robert Reich say.
Good for him?
Don’t know about anyone else but I no longer shop at regular supermarkets for most of my food. It’s mostly Aldi and home prepared meals for us now. We are pretty well off financially but I refuse to pay outrageous amounts for big brand products any longer. I’d rather save the money and use it on a nice family vacation.
Aldi’s decision to change all of the lanes to self checkouts at the stores around me has really turned me off. I thought they would be one of the last bastions against self checkouts. The workers there were well paid and happy. I don’t really know where to shop for groceries with a conscience anymore.
I pick up stuff in the store all the time and look at the price and shake my head and put it back. There are so many things that just aren’t worth it anymore.
Yeah, a regular (new regular after shrinkflation) bag of chips is $5 now. No thanks.
